The Naira strengthened to N1,575 per dollar in the parallel market yesterday, up from N1,585 per dollar on Monday. However, it weakened to N1,535 per dollar in the Nigerian Foreign Exchange Market (NFEM). According to data from the Central Bank of Nigeria (CBN), the indicative exchange rate rose to N1,535 per dollar from N1,533 per dollar on Monday, reflecting a N2 depreciation. As a result, the gap between the parallel market and NFEM rates narrowed to N40 per dollar from N52 per dollar on Monday.